Reading corner - I love the wooden letters (from JoAnn's painted white) the framed book covers. IKEA spice racks painted white for the bookshelves and dot rugs from IKEA. I would love to do this in a corner of our family room!
Instead of a headboard, place bookshelves to frame the bed. Add lights for late night reading. This would be great for a guest bedroom. Leave the shelves at the end of the bed empty for the guests to unpack their clothes. or kids room